Tds on salary

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

04 February 2013 Our company is a newly established company. We have hired some people as investment advisor who were working previously in the other organizations now when we pay the salary to them how should we deduct the tds on salary their packages are Rs. 10 lakhs pa and for the FY 2012-13 they will be working for 3 months (Jan. to march 2013).

Please help
Advance thanks

Santosh Mishra

Santosh Mishra (Expert)
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28 February 2013 Hi, Please ask them to furnish their taxable income earned in previous company.

Compute tax liability on previous income plus current estimated income. You also need to given them credit for taxes already paid.